ByteOnBikes@discuss.online to Political Memes@lemmy.world · 9 days agoEverything went from kinda expensive to really expensive.discuss.onlineimagemessage-square95linkfedilinkarrow-up11arrow-down10
arrow-up11arrow-down1imageEverything went from kinda expensive to really expensive.discuss.onlineByteOnBikes@discuss.online to Political Memes@lemmy.world · 9 days agomessage-square95linkfedilink
minus-squareexplodicle@sh.itjust.workslinkfedilinkEnglisharrow-up0·9 days agoI might be severely misunderstanding you. Are you saying that the cost of production is not a concern when the government is deciding the maximum allowable price of a good or service?
minus-squareCort@lemmy.worldlinkfedilinkarrow-up0·9 days agoAh, sorry, thought we were talking about business setting prices, not government intervention
minus-squareexplodicle@sh.itjust.workslinkfedilinkEnglisharrow-up0·9 days agoCorrect. What did you mean by setting a price floor?
minus-squareCort@lemmy.worldlinkfedilinkarrow-up0·edit-28 days agoWell, outside extreme circumstances, the manufacturer isn’t likely to sell below their own cost; hence the manufacturing cost is a price floor
minus-squareexplodicle@sh.itjust.workslinkfedilinkEnglisharrow-up0·8 days agoThat’s “at cost”, not a price floor.
I might be severely misunderstanding you. Are you saying that the cost of production is not a concern when the government is deciding the maximum allowable price of a good or service?
Ah, sorry, thought we were talking about business setting prices, not government intervention
Correct. What did you mean by setting a price floor?
Well, outside extreme circumstances, the manufacturer isn’t likely to sell below their own cost; hence the manufacturing cost is a price floor
That’s “at cost”, not a price floor.